New York Markets After Hours

Questar ups EPS; F5 warns

Plus: Click2learn, Interpore and McData hit after news

By

BarbaraC. Costanza

Earnings advisories

F5 Networks
FFIV, -0.17%
warned investors Friday its second-quarter loss would be larger than expected. The loss will be 6 cents to 8 cents a share, compared with its previous targeted range of a loss of 4 to 6 cents. Analysts polled by Thomson Financial/First Call expected a loss of 5 cent. Shares closed down 31 cents to $16.84. See full story.

For the first quarter, Enterasys
ETS
forecast revenue of $110 million to $120 million, a sequential decline that it said reflects "the continued lengthening of the sales cycle due to difficult market conditions, poor sales execution, and the SEC investigation. Analysts polled by First Call had been expecting revenue of about $190.4 million. The company also forecast an operating loss of $70 million, and a cash decrease of $70 million for the first quarter. Shares plunged 67 percent to close at $1.34. See full story.

Questar Corp.
STR, +1.97%
raised its fiscal 2002 earnings estimate to a range of $1.85 to $2.05 a share, compared with the company's previous forecast of $1.70 to $1.90 a share. Analysts polled by Thomson Financial/First Call had been anticipating a profit of $1.81 a share. The company said it has taken advantage of rising energy prices to hedge an increased percentage of the company's natural gas and oil production in 2002 through 2004. Shares closed up 93 cents to $27.50.

Greater Bay Bancorp
GBBK
said it expects to meet the high end of current analysts' estimates of 52 cents a share for the first quarter. In addition, the financial services company expects full-year earnings to be in line with the consensus estimate of $2.18 a share. Shares closed up 42 cents to $34.36.

PNM Resources
PNM, -1.08%
said first-quarter earnings will be better than the consensus estimate, but the company may be unable to achieve its $3 a share projections for fiscal 2002 because of depressed prices in the power market. Analysts polled by First Call had been expecting a profit of about $2.95 a share. Shares closed down $2.61 to $26.99.

Gart Sports
GRTS
said it expects to beat the current consensus estimate of 13 cents a share for the first quarter. The retailer said it sees a first-quarter profit of 18 to 20 cents a share, cited sales increases and improved gross margins in all segments. For the year, the company expects a profit of $1.90, up from the company's previous forecast of $1.85 a share. Shares rose 17 percent to close at $34.98.

Stoneridge
SRI, +1.77%
said Friday that it expects earnings of 22 cents to 25 cents a share in the first quarter, well ahead of the current average estimate of analysts polled by Thomson Financial/First Call for a profit of 14 cents a share. The Warren, Ohio, maker of electrical and electronic components for automotive applications attributed the bullish outlook to "stronger than anticipated North American light vehicle production and aggressive cost reduction initiatives." The shares closed up 17 percent to $11.70.

Artesyn Technologies
ATSN
indicated that first-quarter results will fall short of expectations due to the push-out of planned deliveries in the wireless and telecommunications sectors. The provider of power conversion equipment now expects to report a loss of 16 cents to 18 cents a share for the quarter ending March on revenue of $90 million. Analysts surveyed by Multex had been forecasting a loss of 8 cents a share on revenue of $98.3 million, on average. "We are continuing to see ongoing weakness in the telecom sector and a lack of anticipated near term growth in wireless," said Joseph O'Donnell, Artesyn's chief executive. The stock closed down 12 percent to $7.45.

Flowserve
FLS, +0.79%
said it expects first-quarter earnings of 27 cents to 29 cents a share, up from the year-ago profit of 10 cents, which excludes integration expenses, and in line with the average analyst forecast compiled by Multex of 28 cents. Revenue for the quarter ending March are anticipated to be flat to up slightly from sales of $444 million recorded last year, while analysts are currently expecting revenue of $439.3 million. Shares of the provider of industrial flow management services closed up 50 cents to $30.54.

Legato Systems
LGTO
warned of a first-quarter shortfall. In an announcement after the market closed Thursday, the software company said it expects to lose 5 cents to 7 cents a share for the first quarter, while analysts were expecting a loss of only 2 cents a share. Revenue will range between $55 million and $57 million vs. the consensus estimate of about $62 million. The company cited cautionary IT spending from customers and delayed process in closing deals. Shares lost 28 cents to $7.71.

3M
MMM, +0.14%
will post higher-than-expected earnings for its first quarter, the company said. The diversified manufacturer, a Dow component, now expects earnings to be at or slightly higher than $1.20 a share. That's up from the company's previous forecast of between $1.05 and $1.20 a share. Analysts polled by Thomson Financial/First Call currently expect a profit of $1.11 a share. In the year-ago period, the company earned $1.16 a share. The stock closed up $7.81 to $121.93. See full story.

Technology company Lantronix
LTRX, +13.30%
said it expects a third-quarter pro forma loss of 2 to 3 cents a share, compared with the company's previously stated expectation of a 1 cent to 2 cents loss. Analysts polled by First Call had been expecting a loss of 1 cent a share, on average. The company cited sluggish customer IT spending as a result of the overall economic concerns. Shares lost 21 percent to $2.26.

Click2learn
CLKS
said it expects to report a first-quarter loss of between 12 cents and 13 cents a share, excluding one-time items, while analysts were expecting the e-learning company to post a loss of 4 cents a share. Revenue for the quarter will be in the range of $7.5 million and $8 million. Shares closed down 44 percent to $2.34. See full story.

Interpore Cross International
BONZ, +28.57%
warned investors that first-quarter sales would come in lower than the current consensus estimate of $14.87 million. Currently, the company expects sales of between $13.6 million and $13.8 million, 20 percent better than the year-ago total. Sales in the company's orthobiologic products are expected to drop about 10 percent compared with the year-ago period. Spinal products are expected to increase 30 percent. The stock closed down 8.9 percent to $9.88. See full story.

Open storage networking company McData
MCDTA
warned of a first-quarter shortfall. The company said it expects a loss of between 4 and 7 cents a share, with revenue in the range of $62 million and $64 million. Previously the company expected a loss between 2 cents and 4 cents a share, with revenue of between $73 million and $78 million. Analysts polled by First Call were looking for a loss of about 3 cents a share, on revenue of $74.4 million. The company cited a decline of orders from one of its largest customers in March. Shares traded down 26 percent to close at $9.06. See full story.

Getty Images, citing an improvement market environment for its customers, raised its revenue and profit outlook for the first half and the full year. The e-commerce provider of photographs and other images
GETY
said first-quarter revenue should come in at $113.5 million, compared with the $104 million expected by analysts polled by Thomson Financial/First Call. Earnings should come in at 4 cents to 5 cents a share vs. a 3-cent loss predicted by Wall Street. Getty Images shares closed up 22 percent to $34.68.

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